Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Addition on account of share premium received on the contours of Section 56(2)(viib) - Premium has been charged to existing shareholder - Related parties / subscriber having pre-existing right in the company. - The Tribunal observed that where the shares are allotted to existing shareholders, the deeming provisions may not be applicable. The courts emphasized that the purpose behind Section 56(2)(viib) is to prevent unlawful gains, which may not arise in transactions between related companies. - CIT(A) rightly deleted the additions.
Addition on account of share premium received on the contours of Section 56(2)(viib) - Premium has been charged to existing shareholder - Related parties / subscriber having pre-existing right in the company. - The Tribunal observed that where the shares are allotted to existing shareholders, the deeming provisions may not be applicable. The courts emphasized that the purpose behind Section 56(2)(viib) is to prevent unlawful gains, which may not arise in transactions between related companies. - CIT(A) rightly deleted the additions.
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